# Financial Services (Banking Reform) Act 2013, Section 18: Functions for which approval is required

Extent: E+W+S+N.I.

(1) Section 59 of FSMA 2000 (approval for particular arrangements) is amended as follows.
(2) Omit subsection (5).
(3) For subsection (6) substitute—
“(6) The PRA may specify a description of function under subsection (3)(a) only if, in relation to the carrying on of a regulated activity by a PRA-authorised person, it is satisfied that the function is a senior management function as defined in section 59ZA.”
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) Omit subsections (7) to (7B) and (11).

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Source: https://www.legislation.gov.uk/ukpga/2013/33/section/18 (the official version)
Page: https://openlegislation.uk/financial-services-banking-reform-act-2013/section-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.